GLOSS Issue 19 DEC 2014-JAN 2015 - Page 43

Confused? Let me explain. Let’s say you’ve had a fairly good year. You’ve worked out goals, you’ve put in place budgets, you’ve tracked spending, you’ve paid off your credit card debts and you might have a savings buffer in your accounts. Fantastic! So you arrive at December or at the Boxing Day sales and you decide to reward yourself for having had an outstanding year. Or you decide to splurge a little extra on Christmas this year, because you can. And somehow that splurging and shopping and spending ends up undoing all the great work from your year and you end up feeling defeated and slipping back into a whole lot of bad habits. That’s like running a great race but then stopping at the last hurdle or having a lie down while everyone else in your team plays on! Now I love a good sale and buying presents for others so I’m certainly not advocating that you sit at home, do nothing, buy nothing and act like the grinch! However I am suggesting that you make sure you are conscious of your spending this holiday season and you put plans in place to make sure you enjoy it both now and when your credit card statement arrives late January. Now I know from hours of watching and playing sport that athletes always go into a race or a game with a strategy. And generally that strategy encompasses the moment they start the race to the moment they finish. That’s because they understand the mental toughness it takes to finish a race well or to win a game. So my question to you as we reach the final moments in this year is what financial strategies are you going to put in place to make sure you end your race well? Perhaps your strategy will include writing down every person you’re buying for and keeping track of how much you’re spending using free apps such as Evernote or Santas Bag. Perhaps it’s working out how much you’ &Rv